Marqeta, Inc. (NASDAQ:MQ) Given Average Recommendation of “Hold” by Brokerages

Marqeta, Inc. (NASDAQ:MQ) has been given a consensus recommendation of “Hold” by the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.42.

Several research firms have weighed in on MQ. BTIG Research cut Marqeta from a “neutral” rating to a “sell” rating and set a $4.00 target price on the stock. in a research note on Wednesday, August 16th. Barclays lifted their target price on Marqeta from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Berenberg Bank raised Marqeta from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.00 to $8.00 in a research note on Wednesday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Marqeta from $7.00 to $9.00 in a research note on Thursday, August 10th. Finally, Mizuho lifted their price target on Marqeta from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, August 24th.

Marqeta Trading Up 6.2 %

Shares of MQ opened at $5.46 on Friday. The business’s 50-day moving average price is $5.85 and its 200 day moving average price is $5.22. The stock has a market capitalization of $2.90 billion, a P/E ratio of -14.00 and a beta of 1.72. Marqeta has a 1-year low of $3.46 and a 1-year high of $8.00.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Marqeta had a negative return on equity of 12.92% and a negative net margin of 24.54%. The firm had revenue of $231.12 million for the quarter, compared to analysts’ expectations of $220.90 million. On average, research analysts predict that Marqeta will post -0.42 earnings per share for the current year.

Insider Transactions at Marqeta

In other Marqeta news, Director Judson C. Linville purchased 34,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $5.86 per share, for a total transaction of $199,240.00. Following the completion of the acquisition, the director now directly owns 78,650 shares in the company, valued at $460,889. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new stake in shares of Marqeta during the first quarter valued at approximately $38,000. Amundi bought a new stake in shares of Marqeta during the fourth quarter valued at approximately $27,000. Captrust Financial Advisors bought a new stake in shares of Marqeta during the first quarter valued at approximately $53,000. Atria Wealth Solutions Inc. bought a new stake in shares of Marqeta during the second quarter valued at approximately $81,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Marqeta during the third quarter valued at approximately $74,000. 58.10% of the stock is currently owned by institutional investors and hedge funds.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, financial technology, embedded finance solutions, and large financial institution.